Property Exchange (Swap)

General

Property Exchange VS Tax

Short Term Rentals (Holiday Places)

General

In times under which property owners feel like they do not wish to sell or rent out or even they do not have the cash in hand to buy another real property, this is where the property exchanging action comes in!

Actually, exchanging properties in Cyprus is not just an idea or a concept, but it’s an action for disposing your property and it is also fully legal. So, why not working towards this?

Exchanging of properties does exactly what the words denote! Owners exchange between them their real properties and that is done on a monetary basis! This way of doing transactions is not actually well known in Cyprus, that’s why Foytina Real Estate Agency would like to spread the word for this method as particularly during recession periods under which cash is not going around a lot!

Under these difficult economic times, Foytina Real Estate Agency is taking a pro-active approach to assisting both old and new clients in seeking innovative ways in which to satisfy their property requirements.

So, do you wish to downsize or upsize or just want a place in a different location. Well, here is the answer, exchange it !

Exchange is done on a monetary value of the properties involved but if the owners wish to skip this stage, they can still go ahead! The fine line is that they shall have to pay -each properties owners- the Capital Gains Tax incurred from the value of the property they receive as a return/exchanged.

A theoretical example: Capital gains tax is paid on the difference between the value of the property given and the value of the property obtained. So, if one exchanges a €500.000 property with another property of €300.000, then the capital gains tax is applied on the difference of €200.000. If the exchange is equal in value, then no Capital Gains Tax is paid.

Please note that in the exchanging of properties case all parties involved in the deal have to pay to the licensed estate agent his commission.

Wish to have your property exchanged with another property? Then talk to us by contacting us on our contact details.